Mega project gets en­cour­ag­ing in­ter­est from global in­vestors

New Straits Times - - Business -

Coun­try Gar­den Paci­ficview Sdn Bhd’s For­est City project has re­ceived en­cour­ag­ing in­ter­est from busi­nesses, in­vestors and buy­ers from the Asia Pa­cific, Mid­dle East, Europe and the United States.

Coun­try Gar­den Paci­ficview ex­ec­u­tive di­rec­tor Datuk Md Oth­man Yu­sof said in­ter­est from th­ese key mar­kets would help to pick up the pace as the com­pany brought for­ward its plans to sell be­yond China this year.

“We have re­ceived en­cour­ag­ing in­ter­est from busi­nesses, in­vestors and buy­ers.

“They see value in the in­cen­tives ac­corded to For­est City, such as the cre­ation of duty-free and tax-free zones, its geo­graphic prox­im­ity to Asia-Pa­cific coun­tries and af­ford­abil­ity of do­ing busi­ness in Malaysia,” he said.

Oth­man said in­vestors were fur­ther en­cour­aged by the fact the project re­ceived ap­proval from the Malaysian gov­ern­ment in its push to make Iskandar Malaysia a ma­jor re­gional eco­nomic hub.

He said even with stricter for­eign ex­hange poli­cies in China, there was still a big de­mand for Chi­nese firms, who wanted to ex­pand their op­er­a­tions over­seas, such as For­est City.

“There is in­creased de­mand for cross-bor­der trade set­tle­ment in yuan, as the Chi­nese econ­omy con­tin­ues to open up and Chi­nese firms con­tinue with their glob­al­i­sa­tion ef­forts.

“We be­lieve the Chi­nese gov­ern­ment will ap­proach the mat­ter of cap­i­tal con­trol in a fair and prag­matic man­ner that will ben­e­fit all,” said Oth­man. Ah­mad

Fairuz Oth­man

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